Information required by buyers of flats during Conveyancing in Cambridge

During a recent case, a flat-selling client wanted to know why their Conveyancing in Cambridge took longer than the Conveyancing work for a house.

Mr and Mrs S were selling their apartment on Campkin Road, Cambridge CB4. Their Conveyancing Solicitor Elaine explained that because the title was leasehold, it was necessary for her to obtain additional information from the freeholders, required by the buyers Conveyancers.

Flats are invariably owned on leasehold titles, and during Conveyancing in Cambridge the Property Lawyers acting for buyers of such dwellings require various information about building management. Unless the residence is a self-contained maisonette or similar type of property, where the flat-owners also own the freehold, it is necessary to ensure that the building in which the flat is located is being properly maintained and insured.

These details are required not only so that Lawyers carrying out Conveyancing in Cambridge can make checks on behalf of purchasers, but also to satisfy the requirements of mortgage companies when lending on leasehold premises.

Leasehold Conveyancing in Cambridge

The information usually required includes:

• name and address of the freeholder and their agents, for service of notices
• service charge accounts for the previous three years
• estimate of the current year's service charges
• building insurance policy with copy of the current renewal certificate
• details of any major works planned or recently carried out, and whether the cost of these will be covered by any sinking fund
• the fee for registration of notices of the sale and any mortgage
• details of any notices served on or by the current owner

This property had been sold through Tucker Gardner of Bateman House, 82-88 Hills Road, Cambridge CB2 1LQ. After Tucker Gardner had sent the sales details, Elaine was quickly able to obtain a copy of the lease and send it with the sale contract to the Conveyancing Solicitors acting for the purchasers, CB4 Law of 10 Milton Road, Cambridge, CB4 1JY.

The agents who collected the ground rent also charged a fee for providing a documentation pack, which Mr and Mrs S had to pay. Elaine then had to wait some time for this to be received, pressuring the agents to move faster.

After the documents were received, they were forwarded on to the other side's Conveyancers, who promptly raised further enquiries.

More Delays

This took yet more time, explaining why the process had taken longer than it might have done otherwise, had the home been freehold.

If you are looking for proactive Conveyancing Solicitors who will ensure that your Conveyancing in Cambridge is dealt with as fast as possible, get an instant online quote now from Fridaysmove or phone 0330 660 0286.